Tallgrass Energy Partners, LP (TEP) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in Tallgrass Energy Partners, LP (NYSE:TEP) by 13.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,074 shares of the pipeline company’s stock after purchasing an additional 1,751 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tallgrass Energy Partners, were worth $755,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Penserra Capital Management LLC raised its holdings in shares of Tallgrass Energy Partners, by 300.3% in the 2nd quarter. Penserra Capital Management LLC now owns 2,858 shares of the pipeline company’s stock valued at $142,000 after purchasing an additional 2,144 shares during the period. Gilman Hill Asset Management LLC bought a new position in Tallgrass Energy Partners, in the 2nd quarter valued at about $225,000. Franklin Square Holdings L.P. bought a new position in Tallgrass Energy Partners, in the 1st quarter valued at about $239,000. Koch Industries Inc. raised its holdings in Tallgrass Energy Partners, by 11.1% in the 1st quarter. Koch Industries Inc. now owns 5,328 shares of the pipeline company’s stock valued at $283,000 after acquiring an additional 531 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in Tallgrass Energy Partners, by 3.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,050 shares of the pipeline company’s stock valued at $322,000 after acquiring an additional 205 shares during the period. 62.11% of the stock is currently owned by institutional investors.

Tallgrass Energy Partners, LP (NYSE TEP) opened at 46.51 on Wednesday. The firm has a 50-day moving average of $47.72 and a 200 day moving average of $50.02. Tallgrass Energy Partners, LP has a 12-month low of $42.59 and a 12-month high of $55.50. The company has a market capitalization of $3.40 billion, a PE ratio of 20.99 and a beta of 1.05.

Tallgrass Energy Partners, (NYSE:TEP) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $160.86 million during the quarter, compared to the consensus estimate of $158.93 million. Tallgrass Energy Partners, had a return on equity of 20.47% and a net margin of 46.63%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Analysts forecast that Tallgrass Energy Partners, LP will post $3.91 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, July 28th were given a $0.925 dividend. This is a positive change from Tallgrass Energy Partners,’s previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, July 26th. This represents a $3.70 annualized dividend and a yield of 7.96%. Tallgrass Energy Partners,’s payout ratio is currently 165.92%.

Several research firms have weighed in on TEP. Robert W. Baird reissued a “buy” rating and issued a $67.00 price target on shares of Tallgrass Energy Partners, in a report on Thursday, August 24th. BidaskClub raised shares of Tallgrass Energy Partners, from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price target on shares of Tallgrass Energy Partners, in a report on Monday, July 31st. Morgan Stanley reissued an “equal weight” rating and issued a $59.00 price target (up from $57.00) on shares of Tallgrass Energy Partners, in a report on Friday, July 14th. Finally, Barclays PLC increased their price target on shares of Tallgrass Energy Partners, from $58.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $61.22.

In related news, insider Gary J. Brauchle acquired 3,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price of $46.10 per share, with a total value of $138,300.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David G. Dehaemers, Jr. acquired 17,350 shares of the stock in a transaction on Monday, August 21st. The stock was bought at an average cost of $44.64 per share, for a total transaction of $774,504.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 30,350 shares of company stock worth $1,364,104.

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Tallgrass Energy Partners, Profile

Tallgrass Energy Partners, LP owns, operates, acquires and develops midstream energy assets in North America. The Company operates through three segments: Crude Oil Transportation & Logistics, Natural Gas Transportation & Logistics and Processing & Logistics. The Crude Oil Transportation & Logistics segment includes the ownership and operation of a Federal Energy Regulatory Commission (FERC) crude oil pipeline system, and crude oil storage and terminaling facilities.

Institutional Ownership by Quarter for Tallgrass Energy Partners, (NYSE:TEP)

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